Grantham: Sell riskiest investments now

In a quarterly letter Tuesday to institutional clients of Boston-based money manager GMO, the firmâs chief investment strategist said shareholders should take risk off the table now, rather than by October as he had advised earlier this year.

âThe environment has simply become too risky to justify prudent investors hanging around, hoping to get lucky,â Grantham said. âInvestors should take a hard-nosed value approach, which at GMO means having substantial cash reserves around a base of high-quality blue chips and emerging-market equities.â